Organic growth for cryptocurrency exchanges has never been easier and your payment provider can help

Jan 14 2021
Payments Insights

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Getting ready for geographic expansion

You are thinking of growing your cryptocurrency exchange and expanding your operations, but what’s the wisest course of action to help you scale up fast? Where are the largest customer segments located? 

With its largest increase (151%) in crypto exchange users, $46.5 million Bitcoin alone traded and a market worth $55.2 million annual revenue in 2019, you’ve been considering Australia as a potential market.

From payments to productivity and regulation - things to consider

What you’re also wondering is, how easy or hard it would be for your crypto exchange to establish itself and make the expedition Down Under worth its while? 

Controlling growth and managing costs, while making your business more productive comes with the territory of organic growth. Add to that known crypto exchange challenges, such as lack of regulation and the lawful safekeeping of assets and things can get complicated. 

Then you also need to find a trusted payments provider to help you manage payments to and from your platform using multiple payment methods that are fast and reliable, so your customers can make the most of an often volatile trading environment.

Australia as the market of choice

As it turns out the Australian market is a sure strategy for cryptocurrency exchanges increasing customer acquisition in new geographies. Revenue for Australian-based exchanges has rapidly grown as cryptocurrencies have become more accepted. 

Australia hosts a number of internationally recognised cryptocurrency exchanges who’ve successfully made their mark. BTC, Independent Reserve and Peak Trading Group are amongst the largest players but competition is still low, and with industry revenue expecting to achieve an annualised growth of 11.7% over the five years through 2024-25, to $96.2 million, the total addressable market is still there for the taking by new entrants.

A regulated market

AUSTRAC, the  government agency responsible for deterring financial system abuse in Australia has a positively clear and supportive policy towards crypto exchanges.

Challenges that some crypto exchanges might face include custody, regulation and liquidity, however these should not be discouraging factors if you're partnering with the right payment provider. This is in fact the reason why most crypto exchanges in Australia, including, trust Assembly as their main payment provider.

Read about how Zai has helped cryptocurrency exchanges solve their payment needs and increase their sales conversion rate.

Getting your crypto exchange started in a new market

To set yourself up as cryptocurrency in Australia all you need is a local bank account, confidence that your assets won’t be frozen, and an integration to payment rails to accept deposits and process payouts. 

Zai has been helping cryptocurrencies go live and has been processing payments for some of the worlds largest cryptocurrency exchanges for more than two years.

As part of our commitment to support mainstream cryptocurrency adoption we partner with leading blockchain analysis company Chainalysis, who helps exchanges improve compliance standards, through transparent on-chain activity monitoring.

Zai is also backed by some of the world's most experienced financial institutions being part-owned by Westpac, one of Australia's local Big 4 banks and a joint venture partner of international, publicly listed bank Standard Chartered

Multiple payment methods for cryptocurrency exchanges

Using a state of the art API, Zai connects cryptocurrency exchanges to local banking networks, enabling a real-time and seamless payment experience that has helped grow the local crypto market into a dominant global challenger. 

We also offer multiple domestic payment methods for acceptance and disbursement of domestic funds. 

While it’s not possible to process card transactions in Australia, integration into the New Payments Platform (NPP), Australia’s real-time payment rails enables lightning-fast deposits using PayID and payouts.  

Pay ins can also be done using BPAY, one of Australia’s most trusted payment methods with faster payment notifications, a feature unique to Zai. 

Payment APIs designed for cryptocurrency exchange needs

Zai's API integration makes it possible to disburse and collect payments in real-time 24/7, 365 days a year and we provide flexible payment APIs that can make the most complex payment flows simple to administer and manage.

To discuss how we can help you solve your payment needs, contact us here.



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